Business
Nia Warfield

CSX and Norfolk Southern jump on report Union Pacific is exploring a bid for a rival

Shares of CSX and Norfolk Southern rose after a report said Union Pacific is working with Morgan Stanley to explore a potential acquisition of a rival in a move that could reshape the US rail industry.

The West Coast rail giant declined to comment to Semafor and hasn’t named a takeover target. But if you’re wondering who it might be, there are signs: CEO Jim Vena has hinted at wanting a transcontinental network, which would likely involve one of the two major East Coast carriers. CSX currently has a market cap of about $64.8 billion, while Norfolk Southern is around $60.3 billion.

A merger could help boost route efficiency and claw back lost ground, but getting it past regulators wouldn’t be easy. The deal would face major regulatory hurdles under stricter post-2001 merger rules, but comes at a moment when railroads are under pressure. Freight volumes are down and tariffs are dragging on traffic. Meanwhile, trucking firms continue to dominate the space, moving 70% of all domestic freight.

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Hollywood Exteriors And Landmarks - 2025

1 year into the Switch 2, we might’ve seen the top of the console market

The Switch 2 launched on this day in 2025. Amid a rough year for consoles, Nintendo has logged a good one.

Max Knoblauch6/5/26
business
Max Knoblauch

GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Claire Yubin Oh
vsxy
6/4/26
How Victoria’s Secret finally managed to get its sexy back

After years of struggle, Victoria’s Secret shares have been hitting new highs this week.

Victoria's Secret Fashion Show 2025 - Runway
Stacked Cars in Parking Lot

With gas prices soaring, the humble sedan is making a comeback

Recent US sales data reveals a “sedanaissance” among major automakers like Honda, Hyundai, and Toyota.

Max Knoblauch6/3/26
Claire Yubin Oh
Franchise with that?
6/3/26
McDonald’s has a new strategy: Make its stores “easier to run”

Franchised and affiliated locations already make up over 95% of McDonald’s store count and 62% of its sales.

Old McDonald's restaurant in Downey, Los Angeles, California, USA

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